Emerging Neurology Devices Market Trends: Digital Platforms Transforming Neurology Devices Market Shaping the Future of the Industry

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Neurology Devices Market Size Growth Forecast: What to Expect by 2025?
The market size of neurology devices has experienced significant expansion in the past years. The growth is anticipated to take the market from a worth of $17.99 billion in 2024 to $20.09 billion in 2025, projecting a compound annual growth rate (CAGR) of 11.7%. Factors contributing to this surge during the historic period include a rapid increase in the ageing population, swift advancements in technology, economic prosperity in developing markets, a rise in research and development within the industry, and substantial investments in neurology devices by private entities.

How Will the Neurology Devices Market Size Evolve and Grow by 2029?
The market size of neurology devices is predicted to experience significant expansion in the upcoming years. The market value is projected to escalate to $31.87 billion by 2029, growing at a compound annual growth rate (CAGR) of 12.2%. The anticipated growth during this period stems from factors such as a growing aged population, lifestyle modifications, heightened awareness about neurological disorders, an increase in the prevalence of neurological diseases, and rapid economic growth. The notable trends expected in the forecast period encompass investments in the development of neuromodulation devices, advancements in wearable neurology devices, the launch of innovative products, the incorporation of mergers and acquisitions strategies, and heightened emphasis on research and development activities.

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What Drivers Are Propelling the Growth of Neurology Devices Market Forward?
The demand for neurology devices is set to rise, prompted by encouraging government programs. These initiatives encompass policies, regulations, and strategies targeted at ensuring the safety, improving the quality and promoting the progression of these healthcare devices. These beneficial government initiatives will have a considerable impact on the neurology device market by shaping regulations, sponsoring research and development, offering financial incentives, broadening telemedicine, advocating for public health awareness, and enhancing the overall healthcare infrastructure and access. For instance, the US-based Food and Drug Administration, a federal agency of the Department of Health and Human Services, extended the Total Product Life Cycle Advisory Programme (TAP) to include neurological and physical medicine devices in October 2023. This was intended to speed up the progression of technologies in these areas. By the first quarter of 2025, the FDA plans to incorporate four more offices into the program and introduce up to 65 more devices. Consequently, these positive government initiatives are likely to boost the growth of the neurology device market in the future.

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What Long-Term Trends Will Define the Future of the Neurology Devices Market?
Key players in the neurology devices market, such as BrainTale, are innovating by developing digital platforms like BrainTale-care, aimed at enriching their product range and optimizing patient care. Serving as a specialized digital platform, BrainTale-care is dedicated to the tracking and forecasting of neurological disorders. In March 2022, BrainTale, a medical device company based in France, launched the BrainTale-care platform with new features including brainQuant for quantifying white matter and brainScore-coma for predicting coma recovery. This represents a notable milestone in the company's development, as it intends to provide advanced digital medical devices for decision-making assistance to European healthcare practitioners and medical staff. BrainTale's mission is to equip resuscitation experts and neurologists with clinically approved non-invasive tools to enhance the diagnostic, monitoring, and prognostic capabilities related to neurological diseases.

What Are the Key Segments in the Neurology Devices Market?
The neurology devices market covered in this report is segmented -

1) By Type: Cerebrospinal Fluid Management (CSF) Devices And Equipment, Interventional Neurology Devices And Equipment, Neurosurgery Devices And Equipment, Neurostimulation Devices
2) By Type of Expenditure: Public, Private
3) By Product: Instruments/Equipment, Disposables
4) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users

Subsegments:
1) By Cerebrospinal Fluid Management (CSF) Devices And Equipment: CSF Shunts, CSF Drainage Systems, Ventriculostomy Devices
2) By Interventional Neurology Devices And Equipment: Intracranial Stents, Embolic Coils, Neurovascular Catheters
3) By Neurosurgery Devices And Equipment: Surgical Microscopes, Surgical Navigation Systems, Neurosurgical Instruments
4) By Neurostimulation Devices: Deep Brain Stimulation Devices, Spinal Cord Stimulation Devices, Transcranial Magnetic Stimulation Devices

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Who Are the Key Players Shaping the Neurology Devices Market's Competitive Landscape?
Major companies operating in the neurology devices market include Medtronic PLC, Stryker Corporation, Boston Scientific Corporation, Integra LifeSciences, Abbott Laboratories, Terumo Corporation, LivaNova, PLC, Integer, Penumbra, Inc., B. Braun Group, Johnson & Johnson, W.L Gore, St. Jude Medical LLC, Parasym, TUR Therapietechnik GmbH, Smiths Medical, Cizeta Surgical, Neuro France Implants, Ectron, Accentus Medical Ltd, Adaptix, Argonaut Therapeutics, Brainwave Discovery, Cerus Endovascular, Chronus Therapeutics, Natus Medical Incorporated, Cerenovus, Nevro, Aleva Neurotherapeutics SA, Dynatronics Corporation, Cyberonics Inc.

What Geographic Markets Are Powering Growth in the Neurology Devices Market?
North America was the largest region in the global neurology devices market in 2024. Asia-Pacific was the second largest region in the global neurology devices market. Africa was the smallest region in the global neurology devices market. The regions covered in the neurology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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